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60 sats \ 1 reply \ @endothermicdev 5 Apr \ on: 62.5% of US Consumers Live Paycheck to Paycheck charts_and_numbers
I read a critique of these sorts of figures that suggested the conclusions are generally wildly out of line due to the wording and nature of the surveys conducted. Basically, people like me that keep just enough money in their bank account to pay off a credit card statement and mortgage every month would be categorized as "paycheck-to-paycheck." Hint to the headline writers: my savings are not held in a bank account.
Great point, I mean i get holding some cash in reserve or in a savings account to service expenses and debt but if you're making enough to service that your cash balances would likely flow into assets
But I do think most people's cash balances go into an "asset" that is their house rather than a stock portfolio, and I don't consider that an asset
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